Praveen Kumar Kapoor, co-founder and promoter of the realty company SRS Group, was detained at Newark International Airport in the United States on the basis of an Interpol Red Corner Notice and subsequently deported to India, the Enforcement Directorate (ED) said on Thursday.
His B1/B2 visa was cancelled: ED
“On the basis of the Red Corner Notice published by Interpol at the behest of the Directorate of Enforcement (ED), Gurugram Zonal Office, Praveen Kumar Kapoor, Co–Founder and Promoter of the realty firm SRS Group, has been deported by US Authorities to India,” ED said on X (formerly Twitter).
[img=1px,1px]https://data.indianexpress.com/election2019/track_1x1.jpg[/img]ALSO READCrackdown on illegal betting: ED attaches properties of cricketers Suresh Raina, Shikhar Dhawan
The law enforcement agency added that his B1/B2 visa was also cancelled by the US authorities. “Praveen Kumar Kapoor was denied entry at Newark International Airport, USA and his B1/B2 visa was cancelled by the USA Authorities. He was subsequently deported back to New Delhi on 02.11.2025 where he was intercepted by the concerned LEA on the basis of a Lookout Circular (LOC) issued by the ED, Gurugram Zonal Office.”
It further revealed, “He is accused of cheating more than Rs 2,200 crore from investors and banks.”
On the basis of Red Corner Notice published by Interpol at the behest of the Directorate of Enforcement (ED), Gurugram Zonal Office, Praveen Kumar Kapoor, Co–Founder and Promoter of the realty firm SRS Group, has been deported by US Authorities to India. Praveen Kumar Kapoor…
— ED (@dir_ed) November 6, 2025 Who is Praveen Kumar Kapoor?
According to the officials quoted in the HT report, Kapoor is the director of Horizon Global Limited, SRS Finance Limited, and promoter-director of SRS Group of Companies.
Kapoor and two other promoter-directors of the SRS group – Jitender Kumar Garg and Sunil Jindal- had been absconding for several years and were reportedly hiding in Georgia and Dubai, respectively, HT reported.
The outlet further reported that upon his arrival at Delhi’s Indira Gandhi International Airport on November 2, Kapoor was taken into custody by the Faridabad Police and is currently being interrogated. He is also being questioned about the whereabouts of Garg and Jindal. The ED is expected to take him into custody soon to probe the alleged diversion of funds.
ALSO READPMLA being abused to target opposition, warned about it during UPA government: Sharad Pawar
Earlier this year, ED, in a statement, said, “ED investigation under FEOA (Fugitive Economic Offenders Act) has revealed that all three accused persons have left India, and it is reasonably ascertained that Jitender Kumar Garg, Sunil Jindal and Praveen Kumar Kapoor are residing in Georgia and Dubai.”
What is the case all about?
ED took up the money laundering investigation against the group on the basis of 81 FIRs filed under several sections of IPC, 1860, at various police stations across Faridabad and Delhi as well as with the Central Bureau of Investigation (CBI). Going by these, allegedly lured investors to put money into residential and commercial projects by promising high returns, but the funds were later siphoned off, causing massive losses to those who invested the money, ED said in a statement.
“Funds from such investments were deposited in hundreds of shell companies created by SRS Group and were subsequently laundered off. A Provisional Attachment Order of Rs. 2215.98 Crore has already been issued in this case,” ED added.
Kapoor also took large loans from both public and private sector banks under the guise of funding real estate projects. However, the money was allegedly diverted to his family members, partners, and companies under their control in India and abroad, according to an official quoted by HT.
“Kapoor was made an accused in the Prosecution Complaint filed by the ED before the Special Court of PMLA, Gurugram. The Special Court has taken cognisance of the Prosecution Complaint filed by the ED, and charges are being framed against the accused. Due to the efforts of the ED, Non – Bailable Warrants were issued against him by the Special Court of PMLA, Gurugram and he was subsequently declared as Proclaimed Offender,” ED said in a statement, before adding, “Proceedings under the Fugitive Economic Offenders Act (FEOA) were also initiated by ED against Praveen Kumar Kapoor, Jitender Kumar Garg and Sunil Jindal to declare them as Fugitive Economic Offenders.”
The agency said efforts are underway to bring back the remaining absconding promoter-directors. |
